Paypal money to Income tax

Discussion in 'Legal Issues' started by technoguy, May 4, 2007.

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  1. #1
    How can I show paypal check trasnfer to my account in income tax. I am from India and earning from various work.

    Let me know about it. Should I have a licence of IE?
     
    technoguy, May 4, 2007 IP
  2. 8everything

    8everything Peon

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    #2
    Do you have a physical paypal check? You can make a copy of that.
     
    8everything, May 4, 2007 IP
  3. technoguy

    technoguy Notable Member

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    #3
    Yeah but paypal sends check when balanace is min. 150 and I have small transactions. How to show it. Should I show it check wise or transaction wise/
     
    technoguy, May 4, 2007 IP
  4. Felu

    Felu Peon

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    #4
    As far as I know, foreign income isn't really taxable in India.
     
    Felu, May 4, 2007 IP
  5. -Abhishek-

    -Abhishek- Regaining my Momentum!

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    #5
    ^^
    And who told you that ?

    @technoguy,

    If the transactions are indeed very small, you can show it checkwise. But include a summarized copy of the transactions along with the check.

    However, document the transactions and keep print records, if asked later on.

    Abhishek
     
    -Abhishek-, May 4, 2007 IP
  6. msubmission

    msubmission Active Member

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    #6
    Unfortunately this information is wrong.2 years back all deductions regarding this were removed and now everything is taxable.
     
    msubmission, May 5, 2007 IP
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